Viral Video Highlights Need for Insurance Laws to Evolve

We live in a world surrounded by products and services that are constantly updated to make our lives easier. Unfortunately, Insurance laws aren’t one of them.

The Insurance Bureau of Canada (IBC) resorted to social media and made a video with the hashtag #MOOTInsurance in an effort to highlight what they say are antiquated rules around insurance.

This hilarious clip highlights ancient technology like typewriters, alongside the decades-old "pink slip" - a vehicle's proof of insurance. It's all part of a campaign called "It's time for a change" that aims to move the needle on insurance laws. IBC says that:

1. Users should be allowed to customize Insurance as per their needs.
2. Instant policy execution should be available online.
3. There should be a pool of Insurers to pick from; as per your budget and specific needs.

They say these changes will provide users with the ability to save on insurance premiums without compromising on coverage.

Meanwhile, Canadians should continue to shop online for the best car insurance rates.